Medical Marijuana Inc Shareholder Update And Letter
Unfortunately, whether it is because of the industry we are in or because of a requirement the DTC has put in place, they have now decided on March 29, 2013 that they would like opinion letters on all issuances placed with the DTC. We have again, gathered all of the requested information and the same was provided to our attorney as of April 23, 2013. Opinion letters are being drafted and will be submitted to the DTC as soon as they are made available. MJNA has done everything that has been asked, provided all of the relevant documentation, is in the process of gathering the additional opinion letters and will resubmit it back to the DTC within a few weeks depending on how long it takes to obtain the additional opinion letters. Unfortunately, we have no control over how long it will take for the DTC to review the information and, hopefully, remove the chill.
SEEKING ALPHA WRITERS LITIGATION:
I am aware that there are those who feel that litigation should have been commenced by now against Seeking Alpha blog writers that have published numerous negative articles attacking the Company and its management. Some have suggested that our failure to do so is negative reflection on MJNA. I have personally met with litigation counsel to go over the defamatory statements that were presented by Seeking Alpha writers in several of the article(s). The case is clearly laid out. However, it is also more complex than just pursuing defamation claims against a writer and a website as some have stated. The article(s) were blatant attempts, albeit briefly successful, to manipulate our stock price, to damage our shareholders and to create fear and doubt about our credibility. The actions from this group of individuals commenced by the parties posting numerous positive articles about MJNA all while knowing these same individuals would then collectively post those defamatory article(s) right before our quarter financial posting to significantly drop the stock value for nothing more than their personal gain. MJNA had no part of these actions, did not authorize, benefit, participate or have knowledge of what was being written.
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